Total and Maersk Oil: a perfect match?
The multi-billion-dollar deal shows oil and gas M&A is back with a vengeance
An oil company committed to building economies of scale and acquiring assets at the bottom of the market is buying a division operating in similar areas from a company that wants out of the oil business. Total's acquisition of Maersk Oil from AP Moller-Maersk looks like an ideal fit. Total is buying the Danish firm's hydrocarbons unit in a $7.45bn deal, in which AP Moller-Maersk will receive $4.95bn in Total shares, while Total will take on $2.5bn of Maersk Oil debt. On top of the headline figures, down the line, Total will also be liable for Maersk's decommissioning obligations in the North Sea, which are around $3bn. Assuming the deal is approved, it is expected to close in the first quart
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
